The John D. and Catherine T. MacArthur Foundation has generously extended its funding of a RUSI research project examining the countering of proliferation financing. The grant will allow RUSI to undertake further study of the financial activities of proliferators such as North Korea, and how best to counter this activity.
Well away from Whitehall, the UK government’s Criminal Finances Bill is getting noticed. That’s the good news. The bad news is that those at whom the Bill is directed question the government’s willingness to implement its proposed new powers.
As the threat from Islamic State evolves, security responses must too. Financial intelligence must continue to play a critical role in identifying and disrupting new threats, in investigating foreign terrorist fighters and prosecuting their supporters.
The global fight against money laundering and financial crime continues unabated, albeit in different and often surprising forms and locations, as three disparate recent events have indicated. And cash, in the form of high-denomination bank notes, is being targeted.
Although the UK will implement the EU’s Fourth Money Laundering Directive, which was negotiated before the Brexit vote, a challenge lies ahead in dealing with the European Commission’s proposed amendments to the text of the Directive, some of which the UK does not support.
For fifteen years, efforts to tackle terrorist finance have been long on words and short on action. The recently published 2016 Regional Risk Assessment on Terrorism Financing 2016 for Southeast Asia and Australia suggests that at last global edicts are being operationalised locally.